Two subsidiaries of Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) signed a coal supply contract with Laos’ Xekong Power Plant Limited, a subsidiary of the Phonesack Group, on November 27.
The agreement between the Coal and Mineral Import–Export Joint Stock Company and Vinacomin–Northern Coal Trading Joint Stock Company, and Xekong Power Plant Limited will contribute to diversifying the supply sources, helping Vinacomin to be more proactive in coal supply — a core factor serving thermal power plants, industrial production, and ensuring national energy security.
This is also the initial step of the energy cooperation after the two sides signed a Memorandum of Understanding on cooperation in the coal sector in July 2023 (MOU 2023) aimed at enhancing coal trade, ensuring energy security, and exploiting mineral-energy potential between Vietnam and Laos.
The MOU 2023 sets a target of exporting around 20 million tons of coal from Laos to Vietnam each year.
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